The Montreal Exchange (Bourse de Montreal, previouslyMontreal Stock Exchange) is a futures exchange, trading derivatives for example futures contracts and options.The Montreal Exchange is situated in the Tour de la Bourse (Stock Exchange Tower), Montreal’s third-tallest building.
History and Origin of the Montreal Stock Exchange
In 1832, the Montreal Exchange was formed as an informal stock exchange at the Exchange Coffee House in Montreal which was the earliest stock exchange in Canada.
In 1872, Lorn MacDougall, Hartland St Clair MacDougall and George Campbell MacDougall, James Burnett and Frank Bond were created the official Montreal Stock Exchange and Lorn MacDougall was elected ( by shareholders) as the first Chairman of the Governing Committee of Montreal Stock Exchange (this name was used until 1982 and then onwards it known as the Montreal Exchange). At dawn of the 20th Century, the growth of the Montreal Stock Exchange was very fast.
In 1910, the number of trading shares of Montreal Stock Exchange were approximately 2.1 millions.
The success of the Montreal Stock Exchange led to the formation of large corporations such as Dominion Textile and Montreal Light, Heat and Power.
In 1903, The Montreal Stock Exchange commissioned its architect (George B. Post) to design its wonderful building on St. Francois-Xavier Street.
During the 20’s, Montreal’s Market received an exponential development with the achievement of 3.5 millions. In 1926 the “Montreal Curb Market” was established for trading speculative and junior stocks. In 1953, the Curb Market became known as the Canadian Stock Exchange. But on October 29th, 1929, the loss was estimated at 5 billions at that point in time and the Crisis actually strikes Montreal especially tough. In 1934, the Toronto Stock Exchange exceeded Montreal Stock Exchange due to various factors. But Montreal’s place in Canadian’s economy was improved until the mid-70’s when Toronto became the capital of Canada following a decade of problem in Montreal.
For the terrorist Front de liberation du Quebec, the Montreal Stock Exchange stood for a citadel of English-Canadian power and on February 13, 1969, massive bombing at the Stock Exchange blew out the northeast wall and seriously wounded thirty-eight people.
In 1982, the Montreal Stock Exchange renamed as the Montreal Exchange to reflect the increasing significance of primarily options and futures except stocks.
In 1999, the Vancouver, Alberta, Toronto and Montreal exchanges decided to reorganize the Canadian capital markets with the lines of market specialization, and for the next 10 years the Montreal Exchange taking up the place of Canadian Derivatives Exchange.
At the end of 2001, the trading system of the Montreal Exchange transformed from an open environment to a completely computerized trading system, and becoming the earliest traditional exchange in North America to complete this transformation.
In February 2004, the Exchange was the only provider of electronic trading systems and support for the Boston Options Exchange (BOX).
At present, the market indices of Montreal Stock Exchange are:
S&P Canada 60 Index
S&P Canada 60 Index
S&P/TSX Canadian Gold Index
S&P/TSX Canadian Financials Index
S&P/TSX Canadian Information Technology Index
S&P/TSX Canadian Energy Index
Major Companies listed on Montreal Stock Exchange
Meridian Gold Inc
Nortel Networks Corp.
Magna International Inc.
Great-West Lifeco Inc.
Canadian Pacific Railway Ltd.
Canadian Natural Resources Ltd
Ballard Power Systems Inc
Alcan Aluminium Ltd.
Fording Canadian Coal Trust
Bank of Montreal Bank of Nova Scotia
Barrick Gold Corp.
Canadian Imperial Bank of Commerce
Manulife Financial Corp.
Sun Life Financial Services of Canada
XFN iUnits Financial Options
Royal Bank of Canada
National Bank of Canada
The Montreal Exchange
Tour de la Bourse (Stock Exchange Tower)